Money/Credit Cards South America

monkeycork

Hi all


Just wondering whats the best solution with money in South America: Debt Cards? Credit Cards ATM Machines Cash.....

I will be travelling for 10 weeks from Ecuador across to Brazil taking in a few countries in between. What works the best??

Cheers

monkeycork

Anybody please?

Fr Tod Umptious

If I recall in Peru my Irish issued visa debit card worked for ATM withdrawals but not purchases.

It worked for both in Chile.

But I think that's down to the bank rather than the retailer on the other side.

Plasid

Was 10 years ago, best option is ofc cash as no charges or bank burocracy... Credit cards (visa) worked well in any medium/large town and offers the best exchange rates. Traveller's cheques were a pain in the arse. I recommend a mix of all three

Plasid

Travelling solo or part of an overland group? Later have good safes

rojito

Call your bank to let them know you are travelling, that is the most important thing.
If your normal card is standard Visa/Visa Debit/Mastercard etc it should then work in any ATM where you see the same symbol.
My advice would be to never use it for purchases in shops whilst there, withdraw cash from the inbranch ATMs of local banks (not, for example, the privately-owned ATMs you might find inside the door of a supermarket). Withdraw the maximum allowable each time to cut down on international withdrawal fees, these days the actual exchange rates used are fairly reasonable through ATM withdrawals.
Your standard debit card should be fine, bring a credit card as backup if you want. You could then choose whichever option has the lowest fees if booking flights while there, for example.

Bananaleaf

rojito wrote: »

Call your bank to let them know you are travelling, that is the most important thing.
If your normal card is standard Visa/Visa Debit/Mastercard etc it should then work in any ATM where you see the same symbol.
My advice would be to never use it for purchases in shops whilst there, withdraw cash from the inbranch ATMs of local banks (not, for example, the privately-owned ATMs you might find inside the door of a supermarket). Withdraw the maximum allowable each time to cut down on international withdrawal fees, these days the actual exchange rates used are fairly reasonable through ATM withdrawals.
Your standard debit card should be fine, bring a credit card as backup if you want. You could then choose whichever option has the lowest fees if booking flights while there, for example.

This is important. As a lot of CC fraud can take place in these countries, if your bank notices activity on your account in South America and they can't contact you to verify whether or not it has been you they WILL just cancel your cards. I saw it happen myself.

Another thing you should do - not just in South America, but anywhere - is only use ATMs that are inside banks. They won't have been tampered with and it is way safer.

When I travelled South America I was very lucky (and probably very stupid) I had one bank card and that was it. Nothing happened to me or the card and the trip was brilliant. Nowadays, I take a credit card, credited with X amount of money from my current account and then I take my debit card too so that the money is spread between the two cards in case one thing happens to the other. I also carry some cash. I suggest you do the same.

Different countries will have different currencies too so watch how much you are taking out as you don't want to be left with a lot of one currency after you have left the country. Most S.A countries accept the US dollar and it is the offical currency of Ecuador.

If you are going to be in Bolivia I would not use any ATMS - this seemed to be where most peoples cards got swallowed up by machines (according to those I met anyway) I don't know if this was due to theft on behalf of the Bolivians or neglecting to inform banks of their travels on behalf of the tourists, but when I was there I just went into a bank and withdrew from my credit card. More expensive, but far safer.

Personally - I would pay cash for everything in stores, shops etc and only ever use the ATM at banks. I do that everywhere now - even here at home.

Enjoy your trip

tinpib

Yep. Just to echo the above.

You willl get fleeced on Supermarket ATMs in Brasil anyway, I got charged 7eur for a transaction but was desperate as I needed the money.

ATMS in Banks in Brasil are VERY pernikity. A street had 5 banks, Santander, Banco de Brasil, Bradesco, Itau and Caixa and I couldn't withdraw money using my Irish visa card. Hence getting fleeced at the supermarket.

So don't assume you can get money out at the drop of a hat like you do at home. Make sure you plan ahead.

You will probably feel safer getting out money during the daytime in the foyer as already suggested.

Again take 2 cards in case you lose one or it gets swallowed etc.

edit: very important to call the bank/credit card servcies ot tell them you are in Sth Am. I know from experience!